The US trade officials blames Chinese counterparts for conducting unfair trade practice with the US on the ground that, among others, China Central Bank (The People's Bank of China) revalues their currency against US$ China Central Bank (The People's Bank of China) devalues their currency against US$ The People's Bank of China devalues their currency exchange below PPP (purchasing power parity) The People's Bank of China appreciate their currency exchange above the market exchange rate